By John Lee.
The China Huanqiu Contracting & Engineering Company (HQC), a subsidiary of the China National Petroleum Corporation (CNPC), has reportedly signed a Project Management Consultancy (PMC) contract for the West Qurna-1 oilfield.
According to sina.com.cn, this is CNPC's largest overseas service contract since 2020.
In January 2024, PetroChina, also a subsidiary of CNPC, took over from ExxonMobil as main operator, following ExxonMobil's divestment of its remain interest in the field to Basra Oil Company (BOC) and Pertamina.
(Source: sina.com.cn)
In this business everyone know’s that Iraq Power and Oil-Gas projects has been sold to Chinese companies and operators. No commercial ethics at all, lack of transparency, favoritism, corruption and unfair competitions.
Even though Clients claims “ less price” policy which is a totally untrue, projects awarded to Chinese where neither not delivered at time nor completed at the awarded price and quality ( change orders and manipulation in the source of vendors).